European Union Integration of Romania and Process of Accounting Normalization

• Author: Doru Plesea, Adina Liana Camarda
• Position: George Baritiu University of Brasov
• Pages: 572-575

European Union Integration of Romania and Process of Accounting

Normalization

Doru Pleşea1, Adina Liana Camarda2

1“George Bariţiu” University of Brasov, plesea_doru@yahoo.com

2“George Bariţiu” University of Brasov, adinaturism@yahoo.com

Abstract: Lately the problem of national accounting disparity became stringent while the u nification

pressure became more powerful. Transnational corp orations are being la sted for long time. Business

globalization leaded to number companies hereinabove prol iferation as well as countries wherein they ar e

operating. Along with business globalization another criteria pointing out t he requirement of accounting

harmonization is being characterized by ca pital market globalization. Considering the fact that types of

activities became transnational, terr itorially as a matter of fact, exigency and requirement of different

countries capital infusion occurs. Nowadays competition between capital markets might be one of the

strongest factors of internationally accounting harmonization encouragement.

Keywords: European Union, Romania integration, globalization, harmonization, accounting.

1 Introduction

It is well known that law system widely influences accounting system. Emerging from hypotheses

hereby idea of different accounting systems requirement valid to each country individually is being

acknowledged.

An evenly distributed global accounting was and it is being now basic objective of field specialists.

Accounting, as fundamental communication tool, differs from one country to another according to its

content and methods of application. Differences between accounting systems at national level might

result in inefficiency, opportunity lack and distortions of companies and market operators’ behavior.

Recently, when pressure of unification enhances national accounting disparities issue has become

more stringent. Transnational corporations are being lasted for long time. Business globalization

leaded to number companies hereinabove proliferation as well as countries wherein they are operating1

(Pleşea D., 2008).

Accounting in its deepest meaning emphasizes a business language that is to communicate economic

issues in each state that needs to be adapted to dialog provided with fiscally authorities, banking

agents or investitures. Along with business globalization another criteria pointing out the requirement

of accounting harmonization is being characterized by capital market globalization. Considering the

fact that types of activities became transnational, territorially as a matter of fact, exigency and

requirement of different countries capital infusion occurs. Nowadays competition between capital

markets might be one of the strongest factors of internationally accounting harmonization

encouragement. First of all there is about information perception elaborated in a national accounting

1 Pleşea D., (2008) International Accounting Convergence, Omnia Unisast Publishing House Brasov.

572